Kurdistan-focused Western Zagros has finally had its field development plan (FDP) for the Kurdamir field approved by the Kurdistan Regional Government (KRG). It’s been a rollercoaster ride for the firm which now operates the block with an 80% stake alongside the KRG (20%) following the 2019 departure of Spain’s Repsol (MEES, 28 February 2020).
The Kurdamir partners had for years been seeking to secure approval from the KRG’s Ministry of Natural Resources (MNR) for a Kurdamir FDP, but progress proved frustratingly slow as the regional government struggled to deal with a series of crises. First came the advance of the so-called Islamic State in 2014, followed by the oil-price crash later that year: the KRG’s finances have never fully recovered to pre-2015 levels. (CONTINUED - 1103 WORDS)